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ARTICLE · 28 NOVEMBER 2024

Procedures for Restructuring and Redundancies

Always prioritise good faith and transparency during restructuring.

New ZealandInsolvency/Bankruptcy/Re-Structuring

Updated article of Procedures for Restructuring and Redundancies on October 22, 2024

In Short

  • Ensure you have a genuine business reason for restructuring, backed by evidence.
  • Follow a fair consultation process, providing clear information to employees and considering their feedback.
  • Review employment agreements for notice periods and compensation details before implementing redundancies.

Tips for Businesses

Always prioritise good faith and transparency during restructuring. Document your reasons for change, involve employees early in the process, and ensure all decisions are based on business needs rather than individual performance. If downsizing or redeploying roles, seek legal advice to avoid complications.

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